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To whom is the amount due to the deceased partner paid?

Answer and explanation

Correct answer: Legal representative or executor

After making adjustments for the deceased partner’s capital and current accounts, goodwill, revaluation, and profit up to the date of death, the amount payable is transferred to the account of the partner’s legal representative or executor and paid to them. An accountant only records the transaction, so option A is incorrect. Exam tip: remember that the deceased partner’s amount due is generally credited to the executor’s account.

Related tags

Deceased Partner SharePartnership ReconstitutionPartner DeathExecutor AccountAccountancy Class 12Deceased Partner’s ShareDeceased Partner S ShareReconstitution Retirement Or Death Of A Partner

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